Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Section 56(2)(x) addition - difference between fair market value and sale consideration not applicable when property purchased through bank auction, being a statutory process without scope for understatement of consideration. Tribunal's view upheld that Assessing Officer erred in making such addition, set aside Commissioner's order in assessee's favor.
Section 56(2)(x) addition - difference between fair market value and sale consideration not applicable when property purchased through bank auction, being a statutory process without scope for understatement of consideration. Tribunal's view upheld that Assessing Officer erred in making such addition, set aside Commissioner's order in assessee's favor.
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